TSX Ends On Weak Note As Resources Stocks Fall, But Gains 2.1% In Week

RTTNews | Pred 5 dňami
TSX Ends On Weak Note As Resources Stocks Fall, But Gains 2.1% In Week

(RTTNews) - The Canadian market ended lower on Friday as energy and materials stocks fell on weak commodity prices as the U.S. dollar climbed higher on bets the Federal Reserve will be less aggressive with regard to rate cuts during Donald Trump's second term.

Industrials shares were among the other notable losers, while a few stocks from utilities, communications, consumer discretionary and technology sectors posted strong gains.

Investors digested Canadian employment data, and a slew of corporate earnings announcements.

The benchmark S&P/TSX Composite Index closed down 86.53 points or 0.35% at 24,759.40. The index, which touched a low of 24,679.72 and a high of 24,804.26 in the session, posted a gain of 2.1% in the week.

Data from Statistics Canada showed employment in Canada rose by 14,500 in October, following a 46,700 increase in the previous month. The unemployment rate in Canada was at 6.5% in October, remaining unchanged from the previous month.

Average hourly earnings in Canada increased to C$36.73 in October, from C$36.54 a month earlier.

Teck Resources (TECK.A.TO), Stantec (STN.TO) and WSP Global (WSP.TO) ended down 4.3 to 4.5%. Franco-Nevada Corporation (FNV.TO), Stella-Jones (SJ.TO), Bombardier Inc (BBD.B.TO), West Fraser Timber (WFG.TO), Canadian National Railway (CNR.TO), iA Financial Corporation (IAG.TO) and Agnico Eagle Mines (AEM.TO) lost 1.6 to 2.8%.

Mattr Corp (MATR.TO) shares soared nearly 18% after the company announced that it will buy power cable producer AmerCable from France-based Nexans for $280 million.

Molson Coors Canada Inc (TPX.B.TO) rallied about 4%. RB Global (RBA.TO) climbed 3.2%. Shopify Inc (SHOP.TO), Descartes Systems Group (DSG.TO), Morguard Corporation (MRC.TO) and Waste Connections (WCN.TO) climbed 1.5 to 2.3%

Onex Corporation (ONEX.TO) gained about 2.2%. Onex reported third-quarter net earnings of $127 million, compared to $256 million a year ago.

Telus Corporation (T.TO) gained 3.75% after reporting a net income of $257 million for the quarter ended September 30, 2024, up 87.6% compared to net income of $137 million in the corresponding quarter last year.

Docebo Inc (DCBO.TO) gained nearly 1% after reporting net income of $5.0 million, or $0.16 per share, for the third quarter of this financial year, compared to net income of $4.0 million, or $0.12 per share for the comparative period in the prior year.

Brookfield Business Partners (BBU.UN.TO) climbed nearly 5%. The company reported net income of $301 million for the three months ended September 30, 2024, compared to net loss of $44 million in the corresponding quarter of the previous year.

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Japanese Market Slightly Lower

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RTTNews | Pred 5 h 25 min
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RTTNews | Pred 5 h 29 min
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RTTNews | Pred 5 h 56 min
Indonesia Bourse Has Flat Lead For Thursday

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RTTNews | Pred 6 h 26 min
Australian Market Notably Higher

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RTTNews | Pred 6 h 32 min
Bargain Hunting May Boost Hong Kong Shares

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The Hong Kong stock market has moved lower in four straight sessions, slumping more than 1,120 points or 5.6 percent along the way. The Hang Seng Index now sits just beneath the 19,825-point plateau and it may halt its slide on Thursday.
RTTNews | Pred 6 h 41 min
China Stock Market Likely To Remain Rangebound

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The China stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had spiked more than 110 points or 3.3 percent. The Shanghai Composite now sits just beneath the 3,440-point plateau and it figures to see little movement on Thursday.
RTTNews | Pred 6 h 56 min
Australia Jobless Rate Steady At 4.1% In October

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The unemployment rate in Australia came in at a seasonally adjusted 4.1 percent in October, the Australian Bureau of Statistics said on Thursday - unchanged from the previous month and in line with expectations.
RTTNews | Pred 7 h 21 min